Experian fiscal-year net profit up 12%

SarahTurner

LONDON (MarketWatch) -- Credit checking firm Experian
EXPN, +0.60%
said Wednesday that its fiscal-year net profit edged up to $506 million in the twelve months to March 31, up from $452 million last year. Revenue rose to $3.9 billion, from $3.8 billion a year ago. The firm said that its cost efficiency programme is ahead of plan with savings of $80 million delivered in the year. It raised its guidance for total annualised savings by $20 million to $150 million. "There is more stability today in U.S. and U.K. financial services than over the past 12 months, but this has yet to translate into significant change in client behaviour, and the near-term economic outlook remains weak," said CEO Don Robert.

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